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The 53-year-old coached the Rossoneri for eight years between 2001 and 2009 before leaving for a two-year stint at Chelsea.

Ancelotti signed for Paris Saint-Germain in December 2011, but has so far been unable to secure silverware with the French club. PSG have enjoyed a tumultuous start to the Ligue 1 season and find themselves five points behind leaders Olympique Lyon.

"I'd like to play against AC Milan in the Champions League final, not in the next round," the coach is quoted as saying by La Gazzetta dello Sport.

"This project is ambitious, PSG have history behind them and it would be amazing for me to help them win something.

"However, I'm not happy with the way the season is going [in Ligue 1] and neither are the club owners, although they did reassure me.

"There are so many expectations around PSG and consequently rumours too, but rumours do not always point to the truth.

"I have a strong rapport with Leonardo and never feared I would be sacked. We've lacked group spirit so far, but that's normal considering there are 15 new players," he added.

The Parisiens showed their spending power in the summer when they captured the signatures of Zlatan Ibrahimovic and Thiago Silva, but the coach insisted that there will be no big transfers in January.

"There will be no further arrivals in January other than Lucas Moura."